LIFE INSURANCE | KOTAK ETERNAL LIFE | KOTAK MAHINDRA | ADVANTAGES | FEATURES & BENEFITS | ELIGIBILITY & EXCLUSIONS

We all say that life is full of uncertainties and only time holds the key to unlock what is in store, but one can do something to prepare for what life is going to dish up. One can be prepared for any circumstances with the path one chooses. To achieve all the dreams one works day and night. To ensure that your hard-earned money is accessible when you need it the most and cost for a secure future does not increase with time, Eternal Life Plans look towards offering you and your family lifelong protection. With guaranteed protection for life, opportunity to create wealth, and comprehensive cover options, these plans provide you with a perfect financial solution to suit your needs.

Kotak Eternal Life Plans are participating whole life plans that provide enhanced protection till the golden age of 99. The plans consolidates the benefits of a high cover at lower premiums, cash lump sum benefits at desired stage and a way to care for your spouse into one package thereby making it suitable for someone looking for a complete whole life protection plan.

ADVANTAGES

Permanent and complete protection till your 99th birthday
Adequate protection to meet your growing needs
Cash lump sum to fulfill your dreams
Choice of 2 plan options
Complete safeguard against uncertainties of Accidental Disability (applicable to Eternal Life Premier Shield only) and Critical Illness (in the form of a rider)
Tax Benefits under Sec 80C and Sec 10(10)D

FEATURES & BENEFITS

Protection for your family (Death Benefit)

In the unfortunate event of death within the term of the policy, your beneficiary would receive:

Bonus (if any) + Interim Bonus (if any) + Terminal Bonus (as applicable), payable on death during the premium payment term
Guaranteed Sum Assured + Terminal Bonus(as applicable), payable on death after the premium payment term

Cash Lump Sum In The Form Of Bonus Additions

Eternal Life Plans offers the following benefits during the life of the policy:

Simple Reversionary Bonuses: These bonuses are paid out on the 5th policy anniversary, on death during the premium payment term or on survival to the end of the selected premium payment term.

Interim Bonus: In case of a death claim during the premium payment term in respect of the latest policy year for which the reversionary bonus is yet to be declared.

Additional Terminal Bonuses: Payable only on Maturity or earlier Death, as applicable. These are available throughout the lifetime of the policy.

Special Terminal Bonus: Payable as a lump sum cash benefit on survival by the life insured to the end of the premium payment term.

Plan options

Designed in two unique variants, the product has been packaged to suit different sets and needs of customers:

Eternal Life Premier Shield – Offering a comprehensive Whole life cover till age 99 with premiums that match income and lifestyle.

Eternal Life Classic Shield – Offering a comprehensive Whole life cover till age 99 along with guaranteed level premiums and flexible premium payment term.

Tax Benefits

Tax Benefits can be availed under section 80C and 10(10D) of Income Tax Act, 1961. Section 80D of the Income Tax, 1961 will apply in case Critical Illness benefit is opted for. Tax benefits are subject to change in tax laws. Please consult your tax advisor for details.

ELIGIBILITY & EXCLUSIONS

Entry Age for life to be insured	Min – 0 years, Max – 65 years
Regular term of the policy	(99 – Entry Age) years
Maturity Age	Max – 99 years
Maximum Age at which premium payment ceases	75 years
Premium Payment Term	Min: 10 years / Greater of (10, 18 minus the entry age) (for minor) Max: Lesser of (75 minus age at entry, 40)
Min Premium	Regular-Rs.10,000 p.a. for 10 -14 years payment term, Rs.6,000 p.a. for 15+ years payment term

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Tags: KOTAK, KOTAK LIFE INSURANCE, KOTAK'S PLAN, Life Insurance, PROTECTION PLAN, PROTECTION PLANS